A high stakes corporate battle is unfolding in the United Kingdom as used car magnate Peter Waddell fights to reclaim control of the automotive empire he built from nothing.
The founder of Big Motoring World has launched legal action in London’s High Court, alleging that his removal as chief executive was the product of a calculated effort by private equity backers to sideline him and seize control.
Waddell’s life story has long been central to the brand’s identity. Raised in care in Scotland and homeless as a teenager in Glasgow, he eventually moved south, drove a taxi in London, and began selling cars from a modest base in Kent.
Over three decades he transformed Big Motoring World into Britain’s second largest used car supermarket chain, selling roughly 60,000 vehicles annually. By 2022, the company employed about 600 staff and reported annual turnover exceeding £370 million (approximately $503 million).
That same year, Waddell sold a one third stake in the business to private equity firm Freshstream for £72 million (roughly $98 million). The deal included contractual rights that allowed the investor to step in under certain circumstances and ultimately acquire the remaining shares.
According to court filings, relations between founder and investor later deteriorated.
In April 2024, following an internal investigation led by independent counsel, Waddell was removed from his roles as director and CEO. The probe concluded that 22 allegations against him were substantiated, including claims of harassment, bullying, and race discrimination.
Among the most controversial allegations was that Waddell referred to people of Asian ethnicity as “Hyundais.” His legal team argued that the remark stemmed from his dyslexia and difficulty pronouncing the word “Hindu” during a story about a friend.
They contend there was no derogatory intent and that the exchange had previously been treated as lighthearted.
Another allegation centered on a sexually explicit comment allegedly made to a female cleaner. Waddell has acknowledged trading jokes with the employee and said he does not recall using the specific vulgar phrase cited, though he admits that if he did, he regrets it.